- BP (BP +1.1%) says it has begun pumping crude from a new well at one of its four major deepwater hubs in the Gulf of Mexico, the second major startup in the region this year.
- The new well at the Na Kika semi-submersible platform is the third of six BP oil production projects slated to come online this year, part of a multibillion-dollar investment that could help lift Gulf production past its previous peak of 1.8M bbl/day in two years.
- BP operates and owns a 50% stake in Na Kika project, while Royal Dutch Shell (RDS.A, RDS.B) owns the other half; the two companies also are working together on Shell’s deepwater project in the Mars B field, the first major upgrade in the Gulf this year.
BP starts pumping crude at major deepwater Gulf of Mexico project
Feb 24 2014, 15:43 ET